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Letter portraitLegal landscapeQuarterYTD

First National Bank of Grove, The

Grove, OK · Cert 34280

FDIC

Q3 2003

$52.1MAssets
$24.9MLoans
$41.7MDeposits
$3.6MEquity
Deposit mix
94%Interest-bearing $39.1M6%Noninterest $2.6MQ3 2002Q3 2003

NIM

7.30%Q3 ’016.26%Q3 ’025.33%Q3 ’03+4%+2%

Non-interest income vs. expense

3.14%Q3 ’012.65%Q3 ’022.62%Q3 ’03-11%+4%

Executive Summary

  • Earnings: ROA of 1.46%, up 54 bps year over year; NIM at 3.57%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.39%.
  • Funding: loans stand at 59.65% of deposits as of Q3 2003.

Financial Results

Return on Assets (YTD, annualized)

1.46%+54 bps YoY

Net Interest Margin (YTD, annualized)

3.57%+8 bps YoY

Efficiency Ratio (YTD, annualized)

61.89%-36 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets0.92%0.95%1.84%1.55%1.46%+54 bps
Return on Equity12.81%13.01%24.69%20.83%20.09%+727 bps
Net Interest Margin3.49%3.50%3.79%3.60%3.57%+8 bps
Efficiency Ratio62.25%61.74%60.22%62.53%61.89%-36 bps
Non-Interest Burden1.88%1.87%1.99%2.00%1.96%+8 bps
Growth
Asset Growth (YoY)19.86%17.03%21.07%23.04%12.03%-783 bps
Loan Growth (YoY)12.61%9.25%-0.53%-0.59%-4.20%-1,681 bps
Deposit Growth (YoY)19.86%16.65%11.10%15.50%5.43%-1,443 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.72%0.52%0.41%0.40%0.39%-33 bps
Allowance / Loans0.82%1.01%1.10%1.24%1.34%+52 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital13.48%13.75%14.33%14.24%14.68%+119 bps
Equity / Assets7.50%7.49%7.45%7.39%6.85%-65 bps
Liquidity & Funding
Loans / Deposits65.64%64.00%62.04%58.86%59.65%-599 bps
Liquid Assets / Assets0.05%0.16%0.02%0.05%0.09%+5 bps
CRE / Total Capitaln/an/an/an/an/an/an/a